Jan Wüstenfeld
Bitcoin Miner Reserves Back Close to this Years ATH on May 09
Miners have been adding BTC to their reserves in the last weeks. Their reserves are now close to this years ATH of May 09, recovering the outflows in June. They appear to be unimpressed by the most recent price moves (likely expecting higher prices). The fact that miners are not under pressure to sell their BTC at these prices is a testament to the health and resilience of the miners and the network. Hashrate is also slowly recovering, but it looks like the relocation of miners takes time.